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Regime: Risk-on, as S&P 500 futures test overnight highs and the VIX remains subdued below 17 despite geopolitical headlines and upcoming data. Today’s market themes: RBA Rate Hike: Market anticipating an aggressive RBA hike, driving AUD strength and potential impact across Asia-Pac FX. ISM Services & JOLTS: US economic data to…
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Where we are: The DXY is currently trading at 98.26, up 0.26% on the day, having traded in a range of 97.83-98.42 so far. The index is testing resistance around the 98.00 level and has pushed higher against the prior NY close of 118.3926 (USD Broad Index). Bullish momentum is building.…
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Where we are: S&P 500 futures are trading at 7261.75, up 32.25 points (+0.45%) and testing the overnight high of 7269.00. Cash closed yesterday at 7200.80, well below Friday’s record, but futures are attempting to build on the overnight recovery. The overnight range has been contained above 7224.00, suggesting some bottom-picking…
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Where we are: Gold is currently trading at 4573.8, up 0.90% on the session, finding support after yesterday’s dip. The intraday range has been relatively wide, from 4522.9 to 4585.0, suggesting continued volatility. This price action puts it well above yesterday’s close and near the high of the session. What’s driving…
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Where we are: EUR/USD currently trades at 1.1691, barely changed on the day (+0.01%), trapped within a tight intraday range of 1.1677-1.1698. This level is a whisker above yesterday’s NY close. The pair is struggling to gain traction, weighed down by a strengthening dollar. What’s driving it: The Euro’s outlook is…
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Where we are: Nasdaq futures are trading at 27979.00, up 0.79% and near the session high of 28003.50. This follows a mixed cash session yesterday and a weaker close, although futures have gapped up overnight. Resistance is clearly forming around the 28,000 level, which has so far capped gains, while support…
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Where we are: GBP/USD is currently trading at 1.3541, up a touch on the day, within a relatively tight intraday range of 1.3514-1.3551. Cable is struggling to make headway despite a slight uptick in UK gilt yields, and is holding just above the prior NY close. What’s driving it: UK long-term…
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Where we are: USD/JPY is currently trading at 157.80, up 0.41% on the day, having traded in a range of 157.10-157.84. The pair has steadily climbed through the Asia and European sessions, breaking above yesterday’s highs and approaching the 158.00 level. This level will be key to watch as it flirts…
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Where we are: The Dow futures currently trade at 49268, up 183 points or 0.37% on the day. The index is consolidating near the upper end of its overnight range (49060-49306) and holding above Friday’s cash close (48942) despite the cash market selloff. A risk bid is emerging, and has held…
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Where we are: USD/CAD is trading at 1.3625, a marginal uptick of 0.01% on the day, holding near the upper end of its intraday range of 1.3604-1.3630. The pair is consolidating after a strong run that has seen it test levels not seen since early March, supported by broad dollar strength.…
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Where we are: Bitcoin is currently trading at $81,247, up $1,003 or 1.25% on the day, holding the overnight 79746-81308 range. The move puts BTC firmly above the psychologically important $80,000 mark, approaching the upper bound of its intraday range. Ethereum is also trading higher at $2,387, up 1.16%. What’s driving…
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Where we are: The FTSE 100 is currently trading at 22425, down 117 points or 0.52% on the day. Intraday, the index has ranged between 22424 and 22580. This puts it below yesterday’s New York close and suggests continued weakness after HSBC earnings disappointment. The index is approaching a key support…
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Snapshot: AUD/USD trades at 0.7175, up 0.10%, buoyed by copper strength and a slightly softer US 10-year yield. The market is squarely focused on the RBA rate decision and statement at 14:30 AEST, where a hold is widely expected. Watch for any shift in tone around services inflation and the labour…
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Snapshot: WTI crude trades at $103.31, down 1.89% on the session, reversing yesterday’s gains as broader risk sentiment sours. The focus remains on supply risks emanating from the Middle East despite the headlines of a Canada-US pipeline nearing completion. Watch for the 10:00 ET release of ISM Services PMI and JOLTS…
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Snapshot: The Nikkei 225 is trading at 59513 (+0.23%) this morning, underpinned by strength in domestic tech. However, a rallying yen, potentially driven by official intervention, is weighing on sentiment. Japanese markets were closed until today for public holidays. Watch the 59707 intraday high as resistance; a break above could signal…
